In this course we will cover 2 important upcoming issues that will affect the Payment Services Sector.
The Payment Services Directive 2 (PSD2) aims at establishing legal framework conditions for the development and the supply of payment services in the EU for many years, including conflict-ridden relations between the established payment service providers and the new Internet-based and mobile-based disruptors.
PSD2 introduces a number of new market players such as payment initiation services providers and account information services providers and the regulation of known structures such as limited networks and a number of other issues, including not least IT security, has been changed and made stricter. Legislation is also changing, and the outlines of the PSD2 are now becoming clear. This directive is expected to have an important and severe impact on the payment institutions sector.
The second of the course covers Instant Payments. According to the European Central Bank, Instant payments will dramatically increase the speed at which payments are made and received in euro in the European Union. Today it normally takes one business day for a payment to reach the beneficiary. With instant payments this will happen in real time, 24 hours a day, 365 days a year. The funds will be available immediately for use by the recipient.
The trainer will provide us with the latest updates on this issue and how payment service providers can implement this and what the next day will look like in this respect
- Understand the risks of payment institutions
- Understand the new market entrants
- Understand the implementation of PSD2
- Clarification of statutory framework
- Understand the importance of promoting efficiency
- Understand the importance of protecting the market integration in the settlement of instant payments
- Understand the importance of offering settlement of instant payments directly and without credit risk
Who should attend
- Money Laundering Compliance Officers
- Compliance Managers
- Compliance Staff
- Card Operations Manager
- Cash Management Officer
- Electronic Banking Manager
- Legal Services professionals